Country launches gold back currency

Don’t worry, it’s only Zimbabwe:

Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for “Zimbabwe Gold”.

The main problem there is not the currency but the government!

Is there an exchange window?

Serious question Divitias, Is there any government you are happy with?

Andy

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Not really, no. In terms of economics governments are bloated and somewhat inefficient organizations that steal resources from the rest of the economy.

My views on the economy are close to Ludwig von Misis who believed in small government, sound money and a free market:

For Mises was able to demonstrate (a) that the expansion of free markets, the division of labor, and private capital investment is the only possible path to the prosperity and flourishing of the human race; (b) that socialism would be disastrous for a modern economy because the absence of private ownership of land and capital goods prevents any sort of rational pricing, or estimate of costs, and (c) that government intervention, in addition to hampering and crippling the market, would prove counter-productive and cumulative, leading inevitably to socialism unless the entire tissue of interventions was repealed.

https://wiki.mises.org/wiki/Ludwig_von_Mises

The Ludwig von Mises Institute:

When it comes to government Ronald Reagan summed it up beautifully:

The most terrifying words in the English language are: “I’m from the government and I’m here to help”

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I’m from the government, and I’m here to build the Erie Canal, which will decrease wheat prices in the East by 90%.

I’m from the government and I’m here to invent the internet.

I’m from the government and I’m here to mass produce the Salk vaccine and end polio.

I’m from the government and I’m here to learn how to launch satellites and improve telecommunications 1000%.

I’m from the government and I’m here to rebuild Europe.

I’m from the government and I’m here to ensure safe food and drinking water.

I’m from the government and I’m here to build the Interstate Highway System.

I’m from the government and I’m here to establish land grant colleges across the country.

I’m from the government and I’m here to ensure equal rights for all citizens.

I’m from government and I’m here to fund basic scientific research since business can’t look past the next 13 weeks.

I’m from government and I’m here to support veterans.

I’m from government and I’m here to protect areas of wilderness from rapacious developers.

I’m from government and I’m here to ensure bank depositors don’t lose all their money.

I’m from government and I’m here to stabilize agriculture, commodity, and oil prices.

I’m from government and I’m here to build a system to support old people when they are no longer able to work.

I’m from government and I’m here to provide a national defense.

I’m from government and I’m here to stop monopolies from squelching competition and raising prices.

I’m from government and I’m here to provide surety in financial markets.

I’m from government and I’m here to build the Panama Canal and open foreign markets to US farm and manufacturing products.

I’m from government and I’m here to tell you: Ronald Reagan was an idiot, but maybe not as bad as Ludwig con Mises.

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You got to love how the human mind works. Something get stuck in there and no amount of education will work.

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And a very useful one for Grover Norquist, et al., who convince people to despise government, the one thing that can achieve great things for the common good.

Divide and conquer.

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:grinning: Best one today -

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Nice list Goofy. John Cleese summed it up nicely:

Reg: “All right, but apart from the sanitation, medicine, education, wine, public order, irrigation, roads, the fresh water system and public health, what have the Romans ever done for us?”

Governments aren’t perfect. But they are vital. And beneficial.

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I just want to note that I did not type that. I typed “von”, but autocorrect is smarter than your average bear, I guess.

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And, of course, they can over-reach.

DB2

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